Audit 29439

Title: Additional Notes Accounting Policies: Basis of accounting refers to when revenues and expenditures or expenses are recognized in theaccounts and reported in the financial statements. Basis of accounting relates to the timing of themeasurements made, regardless of the measurement focus applied.The modified accrual basis of accounting is followed in the schedule of expenditures of federalawards (the SEFA). Under the modified accrual basis of accounting, revenues are recognized in theaccounting period in which they become both measurable and available to finance expenditures ofthe current period. Available means collectible within the current period or soon enough thereafterto be used to pay liabilities of the current period. Expenditures are recorded when the relatedliability is incurred. In applying the susceptible-to-accrual concept to intergovernmental revenues,the legal and contractual requirements of the numerous individual programs are used as guidance.There are, however, essentially two types of such revenues. In one, monies must be expended onthe specific purpose or project before any amounts will be paid to the Board; therefore, revenuesare recognized based upon the expenditures recorded. In the other, monies are virtuallyunrestricted as to purpose of expenditure and substantially irrevocable; i.e., revocable only forfailure to comply with prescribed compliance requirements, such as with equal employmentopportunity. These resources are reflected as revenues at the time of receipt or earlier if they meetthe availability criteria.For purposes of the SEFA, federal awards include all grants, contracts, and similar agreementsentered into directly with the federal government and other pass through entities. The Board hasobtained Assistance Listing numbers to ensure that all programs have been identified in the SEFA.Assistance Listing numbers have been appropriately listed by applicable programs. Federalprograms with different Assistance Listing numbers that are closely related because they sharecommon compliance requirements are defined as a cluster by the Uniform Guidance. Three clustersare separately identified in the SEFA and are the following:Child Nutrition ClusterThis cluster includes awards that assist States in administering food services that provide healthful,nutritious meals to eligible children in public and non-profit private schools, residential childcareinstitutions, and summer recreation programs; and encourage the domestic consumption ofnutritious agricultural commodities.Special Education ClusterThis cluster includes awards that ensure that all children with disabilities have available to them afree appropriate public education which emphasizes special education and related servicesdesigned to meet their unique needs; ensure that the rights of children with disabilities and theirparents or guardians are protected; assist States, localities, educational service agencies and Federal agencies to provide for the education of all children with disabilities; and assess and ensurethe effectiveness of efforts to educate children with disabilities.Disability Insurance/SSI ClusterThis cluster includes awards that provide benefits to disabled wage earners and their families in theevent the family wage earner becomes disabled. These awards provide payments to financiallyneedy individuals who are aged, blind, or disabled. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate. Note 2: FISCAL PERIOD AUDITEDSingle audit testing procedures were performed for program transactions occurring during the fiscalyear ended September 30, 2022.Note 3: RELATIONSHIP OF THE SCHEDULE TO PROGRAM FINANCIAL REPORTSThe amounts reflected in the financial reports submitted to the awarding federal, state and/or passthroughagencies and the SEFA may differ. Some of the factors that may account for any differenceinclude the following:? The Boards fiscal year-end may differ from the programs year-end.? Accruals recognized in the SEFA, because of year-end procedures, may not be reported inthe program financial reports until the next program reporting period.? Fixed asset purchases and the resultant depreciation charges are recognized as fixed assetsin the Boards financial statements and as expenditures in the program financial reports andthe SEFA.Note 4: FEDERAL AND STATE PASS-THROUGH FUNDSThe Board is also the sub-recipient of federal funds that have been subjected to testing and arereported as expenditures and listed as federal or state pass-through funds. Federal awards otherthan those indicated as pass-through are considered direct.Note 5: DONATED FOOD PROGRAMThe value of non-cash commodities received from the federal government in connection with thedonated food program is reflected in the accompanying financial statements. The total assignedvalue of commodities donated was $355,716 for fiscal year 2022. Note 6: CONTINGENCIESGrant monies received and disbursed by the Board are for specific purposes and are subject toreview by the grantor agencies. Such audits may result in requests for reimbursement due todisallowed expenditures. Based upon prior experience, the Board does not believe that suchdisallowance, if any, would have a material effect on the financial position of the Board. As ofJune 12, 2023, there were no known material questioned or disallowed costs as a result of grantaudits in process or completed.Note 7: INDIRECT COST RATEThe Board has not elected to use the 10% de minimis cost rate.Note 8: SUBRECIPIENTSThe Board did not provide federal or state funds to subrecipients for the fiscal year endingSeptember 30, 2022.Note 9: LOANS AND LOAN GUARANTEESThe Board did not have any loans or loan guarantee programs required to be reported on theschedule for the fiscal year ended September 30, 2022.